Outsourcing costing Americans their jobs: Obama

Outsourcing costing Americans their jobs: Obama

Concerned over rising unemployment in the US, President Barack Obama today said outsourcing work to overseas locations like India has cost Americans their jobs.

In possibly a heartbreaking statement for the Indian IT industry, which gets over 60 per cent of its business from the US, Obama said, "...there still exists a caricature of India as land of call centres and back offices that costs American jobs. That's a real perception."

Addressing a US India business council meet here, Obama said, "There are many Americans whose only experience with trade and globalisation has been shuttered factories or jobs being shift overseas."